Stephens Increases Asante Solutions (PUMP) Price Target to $25.00

Asante Solutions (NASDAQ:PUMP) had its price objective hoisted by stock analysts at Stephens to $25.00 in a research note issued on Thursday, The Fly reports. The brokerage presently has an “overweight” rating on the stock. Stephens’ price target points to a potential upside of 30.82% from the company’s current price.

PUMP has been the subject of several other reports. Stifel Nicolaus set a $23.00 price target on shares of Asante Solutions and gave the stock a “buy” rating in a report on Wednesday, October 10th. Jefferies Financial Group reiterated a “buy” rating and set a $21.00 price target on shares of Asante Solutions in a report on Friday, July 13th. Zacks Investment Research downgraded shares of Asante Solutions from a “hold” rating to a “strong sell” rating in a report on Wednesday, October 17th. Cowen started coverage on shares of Asante Solutions in a report on Saturday, October 13th. They set a “hold” rating and a $18.00 price target for the company. Finally, SunTrust Banks set a $24.00 price target on shares of Asante Solutions and gave the stock a “buy” rating in a report on Thursday, August 30th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $22.08.

PUMP traded up $0.44 during trading on Thursday, hitting $19.11. 24,904 shares of the stock traded hands, compared to its average volume of 1,717,309. Asante Solutions has a twelve month low of $14.00 and a twelve month high of $22.88.

Asante Solutions (NASDAQ:PUMP) last announced its quarterly earnings results on Tuesday, November 6th. The company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). The firm had revenue of $434.00 million for the quarter, compared to the consensus estimate of $447.84 million. The business’s quarterly revenue was up 53.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.25 EPS.

In related news, Director Spencer D. Armour III sold 22,500 shares of the business’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $17.14, for a total value of $385,650.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Several institutional investors have recently modified their holdings of the stock. Van ECK Associates Corp grew its stake in shares of Asante Solutions by 1.0% in the second quarter. Van ECK Associates Corp now owns 4,484,500 shares of the company’s stock worth $70,317,000 after purchasing an additional 43,600 shares during the last quarter. Cortina Asset Management LLC grew its stake in shares of Asante Solutions by 257.7% in the second quarter. Cortina Asset Management LLC now owns 1,120,632 shares of the company’s stock worth $17,572,000 after purchasing an additional 807,314 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Asante Solutions by 231.7% in the second quarter. Bank of New York Mellon Corp now owns 972,237 shares of the company’s stock worth $15,245,000 after purchasing an additional 679,172 shares during the last quarter. Viking Fund Management LLC bought a new stake in shares of Asante Solutions in the second quarter worth $14,582,000. Finally, United Services Automobile Association grew its stake in shares of Asante Solutions by 76.0% in the second quarter. United Services Automobile Association now owns 525,974 shares of the company’s stock worth $8,247,000 after purchasing an additional 227,096 shares during the last quarter.

About Asante Solutions

Asante Solutions, Inc is a medical device company. The Company is a manufacturer of Asante Snap Insulin Pump System (Snap system), which is a pump featuring a modular design with pre-filled insulin cartridges and disposable pump bodies, utilized in combination with a controller. The Snap system comprises four components: the Snap system controller, a disposable pump body, disposable pre-filled insulin cartridges and disposable infusion sets.

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